U.S. Department of Commerce Invests $2.5 Million to Support Manufacturing and the Semiconductor Industry in Oswego, New York
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.5 million grant to the County of Oswego Industrial Development Agency in Oswego, New York, to support the growing manufacturing and semiconductor industries in the region.
This grant will support expansion of the Oswego County Industrial Park, including water and roadway improvements, to support business development. This EDA investment will be matched with $2.5 million in local funds and is expected to create 1,200 jobs, retain 250 jobs, and generate $265 million in private investment, according to grantee estimates.
“The Biden-Harris Administration recognizes that infrastructure is key to expanding economic opportunity across the country – including in Oswego County,” said Secretary of Commerce Gina Raimondo. “This investment from the Biden-Harris Administration will help build up the local infrastructure to support the growing semiconductor industry in Upstate New York.”
“The Economic Development Administration works closely with local communities to support place-based economic growth,” said Deputy Assistant Secretary for Policy and External Affairs Cristina Killingsworth. “This project will provide critical infrastructure improvements to help diversify the regional economy and create jobs throughout New York and the surrounding region.”
“We have this once-in-a-generation opportunity to ensure that Oswego County is at the forefront of building America’s industrial future, and this site, less than 10 miles from the future home of Micron, is primed to be a part of that future. I stood at the Oswego County Industrial Park earlier this month and promised to fight for this funding because I know how much potential this site has to be a centerpiece of America’s semiconductor supply chain right here in Central New York,” said Senator Chuck Schumer. “I am proud to say a promise made is now a promise kept with this $2.5 million federal investment I have secured on the way to Oswego County. Together we’re fast-tracking this expansion and getting the site 100 percent shovel-ready for companies to move in and set up shop. This region was once seen as a miracle valley for its strong factories that made and shipped goods along the Erie Canal, but in recent decades we have lost much of that manufacturing and those jobs to overseas. But because of my CHIPS and Science Law and investments like this, we are helping ensure that Oswego County has the tools it needs to be where America is building its manufacturing future. Today is a major step forward to making that happen and I won’t stop fighting to help make sure America’s future is made here in Upstate New York.”
“As our region prepares for the new Micron facility, we must begin investing in our regional production capability and downstream suppliers,” said Representative Claudia Tenney (NY-24). “This project will create additional space for semiconductor and advanced manufacturing firms to set up shop and contribute to the new semiconductor ecosystem that is developing in the Buffalo-Rochester-Syracuse region. Our region is home to the Erie Canal, once essential to the industrial revolution, and investments like this will help bring about a resurgence in good-paying manufacturing jobs for NY-24. I was honored to write a letter of support for this proposal, and I am thrilled that the Oswego County Industrial Park will have the resources it needs to expand and attract additional private investment.”
This project was made possible by the regional planning efforts led by the Central New York Regional Planning and Development Board (CNY RPDB). EDA funds CNY RPDB to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.